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Wednesday, September 28, 2022

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Indian Rupee Slides To Record Low After Fed Rate Hike

The Indian rupee fell to a record low as the dollar strengthened after a Federal Reserve rate hike.The local currency opened 0.4% lower over its previous close at 80.28, a record low for the currency. Prior to this, the low was 80.12, hit on Aug. 29.In early trade, the rupee depreciated as much as 0.6% to 80.46. This is the fifth time the rupee has breached the 80-mark this year.

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